You receive your annual Property Assessment Notice at the end of May each year. This bill covers the period from January 1 through December 31 of the current year. If you are not participating in the TIPP program, tax payment is due before June 30. A 8% penalty will be applied to all outstanding taxes on July 1, 2015.
About Property Assessments
Property assessments in Alberta are governed by the Municipal Government Act. Your notice of Assessment is based on the valuation and physical condition of your property as of December 31 the previous year. All assessed values are completed within these guidelines to ensure fairness and equity using mass appraisal techniques.
The purpose of assessment is not to reflect a single sale price, but to assess all properties at typical market value on the same valuation date so that taxation is fairly and uniformly shared. The Town of Cardston has contracted a qualified accredited assessor who performs this function based on provincial legislation and regulations.
How Market Value is Determined
Market value, as defined in the MGA, 1 (n), means “the amount that a property might be expected to realize if it is sold on the open market by a willing seller to a willing buyer.” Market value assessments are done using mass appraisal techniques, which determines property values by grouping similar properties as of a specific date.
Some of the factors that determine the value of your home include style of house, square footage, lot size, basement finish, walkout, year of construction, overall quality, and location. Unique location influences like mountain and river views naturally lend themselves to an overall higher market value compared to other jurisdictions.
Tax Bill Calculations
Municipalities levy taxes to help pay for services such as police, fire, parks, recreation, and public works. Town Council reviews and approves the amount required to fund these services each year.
From this amount, sources of revenue other than property taxes, such as provincial grants, license fees, and user fees, are subtracted. The balance is the amount to be collected through property taxes. For the current year, approximately $2 million is required from property taxes to support Town services.
To determine the amount of your property tax, the assessed value of your property is multiplied by the combined municipal, school, and Chinook Foundation Mill Rates for the year.
If you would like an automatic way to pay your property tax, you can sign up for the TIPP program. Participation in the TIPP means that you don’t have to worry about the payment deadline or late payment penalties. Your taxes are spread over the 10 months prior to the deadline, and the amount is withdrawn from your bank account automatically on the 3rd day of each month from August to May. If there was a change in your assessment, a final payment will be withdrawn on June 30 to arrive at the correct amount. The remaining amount to be taken on June 30th will be shown on your tax notice.
Paying Taxes Online
You can pay your taxes online through banks that offer online payment options. The process is simple. Use the six-digit “account number” shown on your assessment notice and pay the amount owing to TOWN OF CARDSTON TAXES or TOWN OF CARDSTON UTILITIES. Please make payment for only one property at a time. Please contact your banking institution for aid or information.